The £81k stamp collection, £41k train set and Lamborghini handed over to a posh pawnbroker: Unusual assets the cash-strapped wealthy have drawn on

A stamp collection valued at £81,000, a treasured train set and a dusty 18th Century dictionary are among the more unusual items used as collateral against short-term rate loans.

Some of Britain's wealthy are finding themselves decidedly cash-strapped and are raiding their attics (and garages) for gems which can net them a hefty loan from 'posh pawnbrokers' Borro.

But along with the Beatles memorabilia and antique violins, more conventional status symbols such as a Lamborghini Murcielago and a Chopard diamond wristwatch have also been laid down to levy much-needed cash.

Prized possessions: Lamborghini's, guitars and stamps are used to levy big loans from Borro.

But those putting their painstakingly procured collectables up against the loans run the risk of losing them for good if they can't pay back their loans and interest.

Taking the age-old concept of a pawnbroker up a level, Borro provides loans of up to £1 million, with among the biggest sums provided since its creation in 2008 a £100,000 loan against a round brilliant-cut five carat diamond set in platinum and yellow gold.

Cars are also popular choices for collateral, with the Murcielago levying a £50,000 loan, while a Maserati Grancabrio elicited £46,000 from Borro.

Others include two gold bars put up against a £50,000 loan and a wine collection put up in exchange for a £15,000 loan.

Borro said the most common reason people need the loan is to either refurbish, extend or buy new property, while other reasons reported include covering school fees and the cost of holidays.

The list of assets pawned highlights that Britain's wealthy may not be quite as rich as they seem.

But it is not only high-value loans taken out with Borro that attract quirky collateral, with one customers putting up an 18th Century dictionary to get a loan of a paltry £145.

If this was paid back within a month, Borro's 68.8 per cent APR equivalent for loans under £19,999 would have added an extra £8.31 interest.

Unusual items highlight the risks people are taking to access quick cash

It might be quirky, but the list detailing the items taken out by those pawning unusual possessions also highlights the financial dangers the owners face by taking out high-value, short-term loans with Borro.

While Borro does not have the astronomically high interest rates charged by payday lenders like Wonga and QuickQuid, with APR equivalents ranging from 39.1% to 68.8%, it's hardly small potatoes.

And this has led to some 12 per cent of Borro customers actually having to forfeit their assets when they are unable to pay the loan back.

A loan of £100,000 paid back over the five months Borro says is its average repayment period would incur interest of £9,983.86 based on the 39.1% equivalent for loans over £100,000.

Borro has said that many turn to their possessions to access liquidity when they find it hard to secure more traditional loans from banks - which come with far lower levels of interest - to fund property refurbishment or to use as bridging funds.

But considering one in ten cannot pay back their Borro loan there may be good reason for banks to turn them down, so think twice before looking for a quick solution and putting your prized possessions at risk.

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